Gabelli Funds LLC Sells 880 Shares of AstraZeneca PLC (NASDAQ:AZN)

Gabelli Funds LLC lowered its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 72,300 shares of the company’s stock after selling 880 shares during the period. Gabelli Funds LLC’s holdings in AstraZeneca were worth $4,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZN. Albion Financial Group UT grew its position in AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of AstraZeneca by 2,618.5% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock valued at $48,000 after acquiring an additional 707 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of AstraZeneca during the fourth quarter valued at approximately $55,000. Golden State Wealth Management LLC purchased a new stake in shares of AstraZeneca during the fourth quarter valued at approximately $55,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in AstraZeneca during the fourth quarter worth $55,000. 20.35% of the stock is owned by institutional investors.

AstraZeneca Price Performance

NASDAQ AZN opened at $67.54 on Friday. The company has a market cap of $209.47 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 1.42 and a beta of 0.49. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm’s 50-day simple moving average is $73.00 and its two-hundred day simple moving average is $70.65. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. Research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were paid a dividend of $1.03 per share. This represents a dividend yield of 2%. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s payout ratio is presently 91.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AZN. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. BNP Paribas initiated coverage on shares of AstraZeneca in a research report on Tuesday. They set an “outperform” rating and a $75.00 price target for the company. Finally, Morgan Stanley started coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AstraZeneca currently has a consensus rating of “Buy” and a consensus target price of $86.80.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.